Los Angeles, CA — Meridian Capital Group arranged permanent financing for two properties totaling 64 multifamily units in Southern, CA in the aggregate amount of $5,400,000. Managing Director Alex J. Katz of Meridian's Los Angeles office represented the local undisclosed borrowers to secure 10-year fixed interest rates of 5.57% and 5.72% respectively.

"We couldn't have timed these rate locks any better, given the recent dramatic rise in long term treasury yields. Our clients were thrilled with the comparatively low spreads we were able to negotiate just before rates spiked," says Katz.

Founded in 1991, Meridian Capital Group LLC is one of the nation's largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida and California. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,250 transactions in 2008, totaling over $11.5 billion.